Equity release has been around for quite a long time and is available in different forms. Due to the important role it plays in retirement planning, equity release has gained plenty of attention these days. Unlike traditional schemes, equity release is one of the best tools for generating income after retirement.
Equity release schemes are described in many different ways, as home income plans, lifetime mortgages or home reversion. Essentially, every scheme offers a mechanism to release the equity you have built up in your property. Equity release offers you a way to release some of the value of your property during retirement when you need it the most. By opting for an equity release scheme, you will not need to move out or sell your property in order to gain the benefit of the equity tied up within it.
Enhance your life during retirement with equity release
Equity release can be the best option for individuals who need extra money to give a boost to their spending power to cover their cost of living. Homeowners over 55 years of age can apply for equity release.
Unlike traditional mortgages, equity release schemes do not require you to make routine repayments. If you are using an equity release scheme to consolidate debt, you must know that you will be taking an earlier unsecured debt to secure against your property. If you are looking for a way to generate income during your retirement, an equity release scheme can be an alternative solution as a means of topping up your retirement income.
To discuss any issues raised, please contact the Equity Release Supermarket team on 0800 678 5159.